Can crypto replace other currencies?

[Jalil Baloch 0]

I want to know whether it will remove all other existing currencies in the world or not in upcoming few years? Or it will not happen at all? 

[Mursanna 211]

Crypto will never replace currencies, because currencies are legal and recognized by all countries. Crypto is currently only used as an investment

[duncun007 3577]

48 minutes ago, Jalil Baloch said:

I want to know whether it will remove all other existing currencies in the world or not in upcoming few years? Or it will not happen at all? 

i think bitcoin has already replaced some fiat money in struggling countries like Venezuela and we already see it happening there because people lost faith in their fiat money so bitcoin was the solution.

[duncun007 3577]

5 minutes ago, Jalil Baloch said:

 

But america and other developed countries are not legalizing it or accepting it. The reason behind is their own banking system. I think they want to hold and check or control of every individual of their countries who is transferring money.. So it is not such easy. It might take time for several years.

if you have any trading friends or crypto enthusiasts from america they can also tell you they have been using crypto more than fiat and most of their investment plans revolve around bitcoin rather than in real life business. which means that crypto is already slowly replacing fiat.

[Yanadia 1517]

 The crypto phenomenon is opened
 new discourse about the future virtual money.  Contact currency This virtual world moves money cash?  This shows that virtual money has

prospects, but with the contribution of risk records that need mitigation we can only wait 

Edited January 6, 2020 by Yanadia
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[aqua 773]

I don't think crypto will replace other currencies because I don't think that the government will let it happens. The government still needs to control the economy in their country by having their currency, and although cryptocurrency existed, it will work together with the local currency. The crypto can help the process of the financial of the country to better conditions, and with cryptocurrency, their people can have a chance to make money by doing many things related to cryptocurrency.

[Soaib khan 1035]

maybe crypto currency not replace any currency because crypto currencies is digital currency  and crypto not traceable currency  if all country legalize crypto maybe crypto replace any currency

[Win 1015]

1 hour ago, Jalil Baloch said:

I want to know whether it will remove all other existing currencies in the world or not in upcoming few years? Or it will not happen at all? 

I think the possibility is there.as look now specially the bitcoin is now very popular in the whole world.but removing existing currencies will never happen but including bitcoin is possible.

[Wijayafajar06 274]

It is very difficult to replace a currency because there are still many countries that have not legalized crypto even though there are countries that have legalized crypto and for now many people use crypto for investment.

[Win 1015]

53 minutes ago, Jack842 said:

No,it cannot completely replace other currencies,Country will allow more priority to physical currency than crypto because crypto are virtual coins.

Yes youre right about that.completely replacing or removing physical fiat.is too impossible but adding other coins or crypto currency coins will make good for it.and in the near future maybe a born of physical crypto coins

[Delgboke 2480]

1 hour ago, Jalil Baloch said:

I want to know whether it will remove all other existing currencies in the world or not in upcoming few years? Or it will not happen at all? 

Am not actually sure of this happening in the cryptocurrency phase for cryptocurrency to take over existing currencies, everyday new crypto project are been introduced that's what happening in the industry. 

[yuwira 0]

the possibility is somewhat impossible, because it is different from the value of the currency if one currency is made the whole world must sign the agreement officially

[Benjamin 84]

This is impossible to happen because this fiat currency, this is the currency that we are used before until now, this will be better if the cryptocurrency will be used by fiat together to balanced the usage of it by the society.

[suzuya 945]

I think it's impossible or simply it is not happening, because government won't allow it to happen and also many people are used in using fiat currency. Also crypto's value is not that stable so it might really affect the price of goods in the market. 

[bliznec 22267]

No, according to probability theory, this cannot happen and cryptocurrencies will not replace other money. This cannot happen.

[Upright 2688]

As of now, bitcoin can't really fiat money currency. But can be adopted into countries by their government. Since bitcoin is decentralized, but every government would want their currency being controlled by a public body.

But for the future, as guys says, that I would be the currency for the long run

[nicolas1234789 2566]

Crypto will never take currency position, every government will protect their currency from any financial treat include crypto.  There's good opinion about this question, crypto can be use for alternative but not as primary. Crypto has their own follower and different market, to adopt it need more than popular and benefits. Let crypto and currency in their place, just connect them don't replace them.

[Dinesh09798 283]

Crypto is just virtual currency, we need others currency for valuation of crypto. So i don't think crypto will repalce other currencies. Because without others currencies crypto is nothing.

[Ayush Singh 1175]

Its difficult to replace other currencies in Cryptocurrency because all other currencies are legal and all the currencies are recognized by parent countries so it is not so easy.

[Honny143 13612]

no crpyto currency never take the place of other currencies because I'm from India  we have our own currency our government and reserve bank not allow the crypto currency to take replace our country and one thing crypto currency is illegal in my country other currency like USD euro etc i don't know about 

[Dinesh09798 283]

Crypto is the virtual currency and dollars and pounds are real currencies. We need real currencies to measure crypto currencies. So crypto can not replace any others real currencies.

[BTC Future 3946]

I think that Bitcoin can become a parallel currency used for e-commerce, but also for every day transactions, such as buying groceries or paying bills. With the technology advancing and the increase of demand for IoT and the release of Lightning Network much will change in our everyday lives.

[babaji 1228]

There is no reason why it can't. Bitcoin in particular was created with that motive in mind. To provide a means of transaction that was transparent, secure and anonymous. However, bitcoin has a lot to go before it can be even think of becoming the global financial currency of the world. 

[Hatred 1388]

5 hours ago, Jalil Baloch said:

I want to know whether it will remove all other existing currencies in the world or not in upcoming few years? Or it will not happen at all? 

In the incoming few years, I think it will not happen. Its because nowadays crypto is not fully accepted by the world. Its hard to beat other currency if you aren't accepted by the world. But we can assume that it will happen in the new 10-20 years.

[Satishmolankar 1703]

It will repla other currency it is replacing the current but the  only matters is that this is not regulated by governments and that is only a fault in crypto currency of government will regulate it then it will be great